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The Pensions and Lifestime Savings Association (PLSA) has commented on The Pensions Regulator's decision to begin enforcement action against Sir Philip Green to seek redress on behalf of the BHS pension scheme. |
Graham Vidler, Director of External Affairs, Pensions and Lifetime Savings Association, said: "Sir Philip Green told the Work and Pensions Select Committee and the public that he would do the right thing by his former employees in the BHS pension scheme and 'sort' it. And to put it simply, that's what he should do. "The Pensions Regulator is doing the right thing today by exercising its powers to begin enforcement action but despite the regulator’s best efforts this is unlikely to result in a quick resolution. This whole situation could be resolved very quickly, and save a huge amount of time and cost, if Sir Philip voluntarily makes a payment that the regulator deems acceptable."
Joanne Segars, Chief Executive, Pensions and Lifetime Savings Association, gave evidence to the Work and Pensions Committee on 2 November 2016. The session is available to view on parliamentlive.tv. |
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